The Indian Institutes of Technology (IITs) are gearing up for a challenging placement season, with a potential decrease in hirings projected for 2024, despite no reduction in salaries, according to a Mint report. However, the Indian Institute of Technology (Indian School of Mines), Dhanbad presents a contrasting scenario, with over 500 job offers from various companies recorded in the placement session until December 4. This number could go as high as 600 as more companies are yet to participate in the placement season. Notably, IIT ISM students have been offered packages exceeding Rs 51 lakh, with an average package of Rs 21.55 lakh.
Additionally, the 2025 batch students at IIT ISM have secured impressive internship offers, with more than 240 students obtaining internships that come with a stipend of up to Rs 75,000. Meanwhile, at IIT Patna, the first phase of placement procedures has commenced, resulting in 147 students securing pre-placement and full-time offers.
Contrastingly, reports from Mint suggest a decline in overall pre-placement offers at IIT Delhi, Kanpur, Bombay, and Roorkee. A recruitment head from a prominent consulting firm informed Mint that last year, they offered Rs 20 lakh, including a Rs 2 lakh joining bonus, and recruited 15 engineers from IITs on the first day of campus placements. However, this year, they anticipate recruiting only five, with offers remaining in the same range, possibly marginally lower.
The global economic slowdown is cited as a factor affecting recruitment at IITs, as mentioned in the Economic Times. Students at IIT-Kharagpur reported a shift from previous years, where recruiters would hire 8-10 students; now, they are hiring only 1-2 students each. The report also highlighted the challenges faced by computer science students, who are struggling to secure even a single job offer.
The placement landscape appears diverse among IITs, with IIT ISM, Dhanbad, standing out with a robust performance in both job offers and internship placements. In contrast, other IITs are navigating challenges posed by economic uncertainties, resulting in a more cautious and selective approach from recruiters.
The Economic Times further emphasised the unprecedented difficulty faced by computer science students, signifying broader challenges within specific disciplines in the face of the evolving job market.